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>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, y
>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and...
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Dec 10, 2012
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will i accept a tax increase if it solves our problem? yes. >>> a cloud of political we have put ourselves into a hold. we're not going to raise taxes and borrow money and get out of it. will i accept a tax increase as part of a deal to solve our problems? yes. >> president obama wants republicans to sign off on the wealthy tax hike before any negotiations about send spending cuts dpin. >>> a cloud of political uncertainty hanging over venezuela. hugo chavez is traveling to cuba for surgery for a third time. this time he named the vice president to replace him in case something was to happen to them. earlier parliament votes unanimously to give him permission leave the country. >>> a man who shot three people to death on an indian reservation in california has been killed. police near fresno were involved in the shoot-out with the man that reportedly opened fire earlier on several people, three of whom died. his two young daughters were wounded, and police chased the suspect and said he shot at them, too. >>> the national menorah in front
will i accept a tax increase if it solves our problem? yes. >>> a cloud of political we have put ourselves into a hold. we're not going to raise taxes and borrow money and get out of it. will i accept a tax increase as part of a deal to solve our problems? yes. >> president obama wants republicans to sign off on the wealthy tax hike before any negotiations about send spending cuts dpin. >>> a cloud of political uncertainty hanging over venezuela. hugo chavez is traveling...
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Dec 5, 2012
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keep the rest of my taxes for me. schools, public safety, the roads, parks, libraries, public transportation, all went into decline. the rich people didn't care. they said everyone gets what they deserve. ordinary people wondered why rich people needed so much money. the 1% said don't worry. this is good for you, too, because it will trickle down from us to you. >> urinating on people. classy image. doesn't get much worse than that. joining me with reaction, tucker carlson and kiersten powers from the daily beast. it goes on seven minutes long, kiersten, and i thought of past pop begapropaganda. at the end of this, somebody watches this, they get indoctrinated. they really begin to believe that rich people are evil. did you get that feeling? it was that bad to me. >> it was pretty bad. i have to say even i found it offensive. >> even i, yeah. >> yeah. no. look, it goes a little too far. i think you can certainly make an argument that there are rich people that are indifferent to poor people, but i don't think that you
keep the rest of my taxes for me. schools, public safety, the roads, parks, libraries, public transportation, all went into decline. the rich people didn't care. they said everyone gets what they deserve. ordinary people wondered why rich people needed so much money. the 1% said don't worry. this is good for you, too, because it will trickle down from us to you. >> urinating on people. classy image. doesn't get much worse than that. joining me with reaction, tucker carlson and kiersten...
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Dec 10, 2012
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will i accept a tax increase if it solves our problem? yes. >>> a cloud of political uncertainty hanging over venezuela. hugo chavez is traveling to cuba for surgery for a third time. this time he named the vice president to replace him in case something was to happen to them. >>> a man who shot three people to death on an indian reservation in california has been killed. police near fresno were involved in the shoot-out with the man that reportedly opened fire earlier on several people, three of whom died. his two young daughters were wounded, and police chased the suspect and said he shot at them, too. >>> the national menorah in front of the white house, illuminated tonight, marking the start of hanukkah. of course, no hanukkah celebration would be complete without a spinning draddel. >> the big event at the nation's capital, president obama will be inaugurated for a second term and that means plenty of turnover among his top advisoriers. emily schmitt has a look at the upcoming cabinet. >> this is a wonderful opportunity for me to mee
will i accept a tax increase if it solves our problem? yes. >>> a cloud of political uncertainty hanging over venezuela. hugo chavez is traveling to cuba for surgery for a third time. this time he named the vice president to replace him in case something was to happen to them. >>> a man who shot three people to death on an indian reservation in california has been killed. police near fresno were involved in the shoot-out with the man that reportedly opened fire earlier on...
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Dec 10, 2012
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the district attorney says he owes more than $350,000 for not paying his state taxes for three years. he pleaded not guilty. baldwin said he paid $100,000 already to new york state. earlier he told me he knew all this was coming. >> i've been in a conversation about this very thing for several months now. and, again, i'm not trying to be funny when i say this. i'm grateful these guys are giving me a chance to work it out. it's a tough situation because it wasn't me specifically, as you know, don, you have people do your taxes for you, et cetera, et cetera. it wasn't handled appropriately. i am ultimately responsible but i am in a conversation and we are communicating with them and what i'm told is that we're going to be able to work it out. i'm hoping that's the end result. >> but for you, explain to the audience what happened. >> well -- i don't want to cry in my coffee here, but the long story short is when i moved out of doing my normal career and mainstream secular hollywood and started to get into mostly faith-based stuff, it changed my income a whole lot. that led to a lot of in
the district attorney says he owes more than $350,000 for not paying his state taxes for three years. he pleaded not guilty. baldwin said he paid $100,000 already to new york state. earlier he told me he knew all this was coming. >> i've been in a conversation about this very thing for several months now. and, again, i'm not trying to be funny when i say this. i'm grateful these guys are giving me a chance to work it out. it's a tough situation because it wasn't me specifically, as you...
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Dec 3, 2012
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we got four bad years of regulation taxes, he wants to add higher taxes to that. tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a doctor strang love. how many republicans will be willing to stand up to that threat. david corn is here to talk about it, the washington bureau chief for mother joins and the author of "47 percent" he's a member of the gridiron society and john feehery is a republican strategist. grover, you're playing defense here. one man elected to nothing. the fact that saxby chambliss comes up, i don't have to live up to some pledge i made 20 years ago and calls up and has grover on the phone going through the transcript of what he said and he's apologizing for each segment as it. what's going on? a senator has to kiss butt to this guy? >> i have known grover for a long time and i like him and he representing -- >> you're afraid of him too. >> i'm not afraid of him. he represents a cause and he's been amazingly successful because taxes have gone down for a long time because of grover. what do we nou becau
we got four bad years of regulation taxes, he wants to add higher taxes to that. tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a doctor strang love. how many republicans will be willing to stand up to that threat. david corn is here to talk about it, the washington bureau chief for mother joins and the author of "47 percent" he's a member of the gridiron society and john feehery is a republican strategist. grover, you're playing...
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Dec 5, 2012
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they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect elizabeth warren, a champion of financial reform, will get a spot on the banking committee. >>> and senator john mccain hints he might favor filibuster reform. debbie stabenow is here on rule changes. stay with us. we're right back. >>> to all the small business owners who are tired of the system rigged against them, we're going to hold the big guys accountable. >> welcome back to "the ed show." that's elizabeth warren of massachusetts who has been a true champion of holding the big guys accountable. they might be in for a rude awakening. warren will likely become a member of the b
they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect...
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their payroll taxes might. their income taxes are not. and that is huge. and the truth is, from what i'm hearing, the top 2% better start making financial plans. >> there's no question about that. what's wrong with this proposal? >> look, there are parts of this proposals are reasonable. the bigger problem here is, if the president is sticking to this position, at least for the time being that he outlined last week, would be the equivalent of the republicans saying we want the ryan budget, we want marginal tax rates cut across the board 20%. i'll tell you, steve, i think he has dug in, he spent more time on the phone this week from what i understand with steve israel, chairman of the democrat chair than he did with john boehner. tell me what he's telling those hard left groups about his position and how he can walk back to something more reasonable like something that tom's for. given what he's saying with these hard left groups. >> he's trying to do something different than he's done before. which is take his message outside the beltway, outside of capito
their payroll taxes might. their income taxes are not. and that is huge. and the truth is, from what i'm hearing, the top 2% better start making financial plans. >> there's no question about that. what's wrong with this proposal? >> look, there are parts of this proposals are reasonable. the bigger problem here is, if the president is sticking to this position, at least for the time being that he outlined last week, would be the equivalent of the republicans saying we want the ryan...
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Dec 4, 2012
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then you're fighting for tax cuts, not tax increases, but we'll see. and the fact of the matter is that grover is just a vessel for a bigger issue. taxes used to be -- >> he seems to be calling the shots. >> he's not calling the shots. >> last week to figure out -- last week on the media there's a lot of reporting that saxby chambliss stood up to grover or broke with him. here is what he said. let's look at that first. >> i care more about this country than i do about a 20-year-old pledge. >> do you think that grover norquist would hold a no new tax pledge that you signed 20 years ago, would he hold that against you in an upcoming re-election bid for the u.s. senate? >> well, you know, in all likelihood, yes, but i don't worry about that because i care too much about my country. i care a lot more about it than i do about grover norquist. >> well, "the washington post" reports today that five days after making those comments on television -- on radio rather, chambliss and norquist spoke on the phone. as norquist read allowed a transcript of chambliss' e
then you're fighting for tax cuts, not tax increases, but we'll see. and the fact of the matter is that grover is just a vessel for a bigger issue. taxes used to be -- >> he seems to be calling the shots. >> he's not calling the shots. >> last week to figure out -- last week on the media there's a lot of reporting that saxby chambliss stood up to grover or broke with him. here is what he said. let's look at that first. >> i care more about this country than i do about a...
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Dec 6, 2012
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a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> let's allow higher rates to go up for the top 2%, that includes all of you, yes. but not in any way that's going to affect your spending, your lifestyles, or the economy in any significant way. let's make sure that 98% of americans don't see it -- a single dime in tax increases next year. >> so, john boehner, the speaker for the republican party in
a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess...
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they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep say iing no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect elizabeth warren, a champion of financial reform, will get a spot on the banking committee. >>> and senator john mccain hints he might favor filibuster reform. debbie stabenow is here on rule changes. stay with us. we're right back. eat good fats. avoid bad. don't go over 2000... 1200 calories a day. carbs are bad. carbs are good. the story keeps changing. so i'm not listening... to anyone but myself. i know better nutrition when i see it: great grains. great grains cereal starts whole and stays whole. see the seam? more processed flakes look nothing like natural grains. you can'
they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep say iing no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect...
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they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect elizabeth warren, a champion of financial reform, will get a spot on the banking committee. >>> and senator john mccain hints he might favor filibuster reform. debbie stabenow is here on rule changes. stay with us. we're right back. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. th
they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect...
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his taxes. if we don't do that, the problem is pressure is on spending even more. i think we need to make the defense cuts. we want to minimize human services cuts. the best way to do that is go back to clinton era taxes. i actually have mixed feelings about striking a deal where the rich folks pay more taxes. i think they should pay more taxes, but i actually think going off clithe cliff is a bet solution than just charging people who make a lot of money what they were paying when bill clinton was president. >> the clinton tax rates worked well, and when you look at where we really are today, although the democrats are playing really tough on these top tax rates, they have conceded about 75% of the tax debate to republicans by agreeing with them on all of the other rates. >> that is true, aalthough there is a matter of timing. you know, i think part of what you have to look at here is it's really hrepublicans who force this conversation about having deficit reduction right now. we shouldn't hav
his taxes. if we don't do that, the problem is pressure is on spending even more. i think we need to make the defense cuts. we want to minimize human services cuts. the best way to do that is go back to clinton era taxes. i actually have mixed feelings about striking a deal where the rich folks pay more taxes. i think they should pay more taxes, but i actually think going off clithe cliff is a bet solution than just charging people who make a lot of money what they were paying when bill clinton...
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Dec 10, 2012
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they want -- do not want to raise tax rates on anyone. as senator corker of tennessee said -- president obama holds the cards. >> what do you think his opinion represents? is this just one senate republican, or does this show kind of a shift in attitude among republicans? >> it certainly shows -- a number of republicans are looking to make a deal with the president. but until speaker boehner and the house republicans come to terms with raising tax rates president obama has said he will make a deal with them. >> we will see if republicans capitulate. let's talk about the job report that came out -- now the election is over, it seems not as much is -- attention is paid to these reports. it showed the economy is still on a track of city growth and the people have not lost confidence that a deal will be struck. >> the unemployment rate ticked down again. like he said during the campaign these come out on the first friday of the month and we talk about them all along. this week it pop for about half an hour and everyone forgot about it. it rea
they want -- do not want to raise tax rates on anyone. as senator corker of tennessee said -- president obama holds the cards. >> what do you think his opinion represents? is this just one senate republican, or does this show kind of a shift in attitude among republicans? >> it certainly shows -- a number of republicans are looking to make a deal with the president. but until speaker boehner and the house republicans come to terms with raising tax rates president obama has said he...
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Dec 3, 2012
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don't hold those tax breaks for millionaires hostage. let's reduce taxes for the middle class. that's something that we all agree on fine let's get it done. if we believe we need to make certain investments which we do to grow the economy, in infrastructure and innovation and making sure america is always on the cutting-edge of new entrepreneurship, the fact is that we want to do that, the president has put that forward, the election does make a difference, the president is absolutely strong about this. look i was just with him on friday. he came to my district. was at a business. they are showing some of that video right now. local business in my district that was a toy manufacturer and what they said to the president, what they said to me is we, we make more toys when there's consumer demand. let's make sure that middle class americans have dollars in their pockets, they continue to have confidence as consumers or grow that confidence and that our businesses, large and small respond to that, that they begin to see so stability. this is time when we're calling on speaker boehn
don't hold those tax breaks for millionaires hostage. let's reduce taxes for the middle class. that's something that we all agree on fine let's get it done. if we believe we need to make certain investments which we do to grow the economy, in infrastructure and innovation and making sure america is always on the cutting-edge of new entrepreneurship, the fact is that we want to do that, the president has put that forward, the election does make a difference, the president is absolutely strong...
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that tax code a little more progressive. you will have given a little more pain relative to everyone else to the top 2%. that's an important principle i think because this economic downturn has hurt the 98% so much more than the rich. i think it's really important to stay with what the president ran on, the 250 and above because, look, if they don't make a deal, it's going to happen anyway. republicans don't have any room to maneuver it up to $500,000. it's going to happen anyway. >> let's look at this new poll. shows raising tacks on the rich is overwhelmingly popular. no surprise there. 60% of the country favor raising taxes on house holds making $250,000 or more. 38% oppose it. >> yeah. >> i was thinking about 38 thrs. only 2% of the 38% get something out of it. 36% don't. >> i really don't think people who make $250,000 a year, a family of four $250,000 a year of annual income or adjusted gross income is rich. >> depends where you live. >> right. >> and very few people really make that. >> oh, it does. >> take that numbe
that tax code a little more progressive. you will have given a little more pain relative to everyone else to the top 2%. that's an important principle i think because this economic downturn has hurt the 98% so much more than the rich. i think it's really important to stay with what the president ran on, the 250 and above because, look, if they don't make a deal, it's going to happen anyway. republicans don't have any room to maneuver it up to $500,000. it's going to happen anyway. >>...
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middle class tax cuts to proceed? that's their choice, and i think people like tom cole recognize that it's unsustainable to take the position that nobody gets tax relief because they hold out for folks with 250,000 and over to get this extra tax cut on the portion of their income above 250,000. after all, what the president is saying on that part of your income above 250,000, you're going back to the clinton era tax raites, which is 4 cents on the dollar. >> congressman van hollen, thank you for your time. we'll see what happens next. thank you, sir. >>> we could soon learn who the president wants to be the next secretary of state. chuck todd says a decision could come this week, but as we get closer to a decision, the partisan divide over the potential nomination of susan rice, considered the front-runner, seems to be intensifying. >> when it comes to susan rice as far as lindsey graham is concerned i find great fault with what she said on 16th of september. in other areas i find her lacking when it comes to being t
middle class tax cuts to proceed? that's their choice, and i think people like tom cole recognize that it's unsustainable to take the position that nobody gets tax relief because they hold out for folks with 250,000 and over to get this extra tax cut on the portion of their income above 250,000. after all, what the president is saying on that part of your income above 250,000, you're going back to the clinton era tax raites, which is 4 cents on the dollar. >> congressman van hollen, thank...
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the bush tax cuts lapse. what they're talking about is let's extent bush tax cuts for the 98%, let them go up maybe not 39.6% but 37%, something like that. then next year, when the republicans have more leverage with the debt ceiling and also with the government running out of money, that's the point they go after the president on spending. both social programs as well as entitlement reform. i'm not sure you're going to get a big deal right now but you might get enough to avoid the fiscal cliff and then more fighting next year over spending. >> will republicans accept a 38% tax rate for the wealthy? and will democrats accept reductions in entitlement spending? >> that's a good question. corker would accept 37% but he speaks for a few senators. he doesn't speak for the house republican majority and john boehner though it seems to be moving that direction. i'm not sure the president would accept 37% because i'm not sure he gets enough money. you need enough money, whether there's some -- yes, partial increase i
the bush tax cuts lapse. what they're talking about is let's extent bush tax cuts for the 98%, let them go up maybe not 39.6% but 37%, something like that. then next year, when the republicans have more leverage with the debt ceiling and also with the government running out of money, that's the point they go after the president on spending. both social programs as well as entitlement reform. i'm not sure you're going to get a big deal right now but you might get enough to avoid the fiscal cliff...
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Dec 10, 2012
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back to the campaign for tax plan would raise the taxes. it is not going to happen. we have liberals like "the new york times" rally around certain tax form saying no and will not touch that. they did not want tax reform come it will not happen. tracy: we have not heard a word about that coming up in 21 days. >> busy expiration on the payroll tax cut, all of those extenders, this is all coming to a head. there's a lot of progress in washington right now, so at best talking with dealing with the bush era policies and the rest is pushed even further into 2013. tracy: even the extenders probably will get punted for a year or extended for a year. so here we are again this time next year we wwll have the same conversation. >> that is just how it goes forward. we have to accep accepted is goe done. tracy: the only way to do this is to throw the book out and start over. republicans offered it to them three times. offered it to them last week and turned it down flat. not interested forming the tax. i think we're in perilous times and we're down to
back to the campaign for tax plan would raise the taxes. it is not going to happen. we have liberals like "the new york times" rally around certain tax form saying no and will not touch that. they did not want tax reform come it will not happen. tracy: we have not heard a word about that coming up in 21 days. >> busy expiration on the payroll tax cut, all of those extenders, this is all coming to a head. there's a lot of progress in washington right now, so at best talking with...
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a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to vote on that same thing. and if we can just get a few house republicans on board, we can pass the bill in the house, its wi it will land on my desk, and i am ready. i've got a bunch of pens ready to sign this bill. >> and 30 minutes after the president was finished, john boehner held a press conference. he gave a pessimistic assessment of the negotiations. let's listen to mr. boehner. >> let's not kid ourselves. but when i come out the day after the election and make it clear that republicans will put revenue on the table
a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to...
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they want to about to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase to actually solve our problems? yes. >> we have one house and that's it. this is in the democrats' hands. >> we agree on 98% of this, to me, i would just get it off the table also they don't worry about it. >> they agreed that visits are going up on the rich no matter what. >> you cannot generate enough revenue to have meaningful deficit reduction. >> republicans want a big spending cuts from programs like medicare and social security. >> we do not want to be here in another year or attend. >> on both sides of pennsylvania avenue, from main street to wall street, americans are waiting to see who will blink first. both are eager to wind down the crisis, but no one wants to walk away in defeat. , wbal-tv 11 news. >> an update on a former president in the hospital. >> former president george h. w. bush remained unstable condition for treatment of a bronchitis- related costs. and has been two weeks since he was admitted for treatment. they say there's no change in the four presid
they want to about to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase to actually solve our problems? yes. >> we have one house and that's it. this is in the democrats' hands. >> we agree on 98% of this, to me, i would just get it off the table also they don't worry about it. >> they agreed that visits are going up on the rich no matter what. >> you cannot generate enough revenue to have meaningful deficit reduction....
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. >> what i've suggested is let's put a down payment on taxes, let's let tax rates on the upper income folks go up. let's let those go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform. we look at what loopholes and deductions both democrats and republicans are willing to close. and it is possible that we may be able to lower rates by broadening the base at that point. >> joining me here in washington are congressman tim walls, democrat from minnesota, and karen finney, the former dnc director and msnbc analyst. you introduced today in the house a discharge petition which is a way for normally the minority to try to get, to force a vote on something that the leadership doesn't want. this petition would basically bring to a vote in the house the bill that the senate passed, which is basically the president's version of the tax structure that he would like to see. what's happening with the discharge petition? >> we have 151 people signed on to it. i think we have momentum. >> how many signatures do you need? >> 218.
. >> what i've suggested is let's put a down payment on taxes, let's let tax rates on the upper income folks go up. let's let those go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform. we look at what loopholes and deductions both democrats and republicans are willing to close. and it is possible that we may be able to lower rates by broadening the base at that point. >> joining me here in washington are...
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plus what the additional taxes. $1 trillion that are in new taxes on obamacare. most of them on the wealthy. plus, then, hit them on the deduction side. they will be paying top marginal rate of 40%. effective rate that is four or five or six rate ace head. >> bret: make believe you want to get to compromise. there is an easy way to get there. the president said i need $800 billion at revenue, there is a way to get there. let us not discriminate -- let's go simpson-bowles. let's let everybody decide how much they want to use for whatever deduction. maybe you want to use for education. maybe you want to use it for your home. maybe you need it for healthcare. let's cap it. itemize deductions at a certain amount. if you cap at $25,000, you can lower all tax rates 20%. plus kill the alternative minimum tax forever and still have $1.3 trillion in revenue. if you do it at $50,000, cap. it gives you $800 billion. >> i like this idea when i first heard it but there are problems and intended consequences. for instance, you wipe out charities. charitable giving changed radi
plus what the additional taxes. $1 trillion that are in new taxes on obamacare. most of them on the wealthy. plus, then, hit them on the deduction side. they will be paying top marginal rate of 40%. effective rate that is four or five or six rate ace head. >> bret: make believe you want to get to compromise. there is an easy way to get there. the president said i need $800 billion at revenue, there is a way to get there. let us not discriminate -- let's go simpson-bowles. let's let...
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Dec 10, 2012
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president obama headed to detroit this morning to seek support from auto workers for his plan to raise taxes on the wealthiest americans. the president's latest campaign style appearance follows a weekend white house meeting with house speaker john boehner. sources tell cbs news both sides remain hopeful but little progress was made. if they can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across the board spending cuts will kick in on january 1. economists say that combination could plunge the country back into a recession. there are signs some republicans are now willing to compromise on taxes if they can secure cuts to social security, medicare and medicaid. >> the rate increase on the top 2% that the president is talking about and all of a sudden the shift goes back to entitlements. >> reporter: one proposal under discussion, raising the eligibility age for medicare is not going well for some democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs because people who are 65 and 66
president obama headed to detroit this morning to seek support from auto workers for his plan to raise taxes on the wealthiest americans. the president's latest campaign style appearance follows a weekend white house meeting with house speaker john boehner. sources tell cbs news both sides remain hopeful but little progress was made. if they can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across the board spending cuts will kick in on january 1....
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licensed by the state and paying taxes to it. this, all while the federal government still views possessing and certainly growing, selling, and distributing marijuana as serious felonies. how's that going to work is the big question that hangs over whatever celebrations the citizens of washington might engage in tomorrow. on a side note, tomorrow is also the first day that same-sex couples will be able to get marriage licenses in washington. then on sunday, they will actually be able to tie the knot. that was another huge stage washington state voters approved in the last election. if you are betting on how this country will evolve in the next few decades in terms of politics and policy, two safe bets. marriage equality and marijuana. both of those policies go into effect tomorrow in washington. the truly fascinating thing here is that starting tomorrow, we will see an abstract debate, an abstract policy discussion that we've had for many years. should pot be legal? how might it change society? how might it improve it? we'll see
licensed by the state and paying taxes to it. this, all while the federal government still views possessing and certainly growing, selling, and distributing marijuana as serious felonies. how's that going to work is the big question that hangs over whatever celebrations the citizens of washington might engage in tomorrow. on a side note, tomorrow is also the first day that same-sex couples will be able to get marriage licenses in washington. then on sunday, they will actually be able to tie the...
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tall tax rates will go up. we will then enact tax cuts for 98%. we will get congratulations from the american people. >> keeping and adding back tax cut for those above $250,000, 9 #% of income would add $37 trillion in ten years and would only save $800 billion or so from raising rates on higher incomes. democrats complain the republicans didn't pay for bush tax cut and no one on the democratic side is talking about finding the off-setting savings now to extend them. several democrats contemplated going over the cliff in recent days. perhaps in hopes of gaining leverage. >> if the republicans don't agree with that, we reach a point where all the tax cuts expire and we start over next year. >> form every republican senate aide said it would be hard to blame one party. >> i think they realize that both sides will be culpable if we go over cliff. >> house speaker john boehner says going over the cliff is far too dangerous to the economy. nevertheless, even treasury secretary geithner suggested on fox news sunday that republicans might need more time
tall tax rates will go up. we will then enact tax cuts for 98%. we will get congratulations from the american people. >> keeping and adding back tax cut for those above $250,000, 9 #% of income would add $37 trillion in ten years and would only save $800 billion or so from raising rates on higher incomes. democrats complain the republicans didn't pay for bush tax cut and no one on the democratic side is talking about finding the off-setting savings now to extend them. several democrats...
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the taxing issue, yes. the pyrotechnics. there is the struggle between the republican and democratic view. but all of the numbers people know that it is the entitlement issue. if you can come up with some sort of fixed trajectory to make it somehow stable, that would be -- you have something from the book. >> your books are all ultimately about power. how it is used, squandered, built, and so the subtext of these events are about how life works, how washington works. if my favorite sentence in "the price of politics" is, when you need friends, it is too late to make them. tell us about what you have learned. what is the 100-your lesson for how that unravel? >> you mean, last year about what happened? they found a way to postpone everything. again, they can postpone lots of the problems. but postponement is the theme, that cliche, kicking the can down the road. i do not know what of the can is. it is postponing hard decisions. it is too bad. they should make the hard decisions. i think the hypothetical weekly dinner between t
the taxing issue, yes. the pyrotechnics. there is the struggle between the republican and democratic view. but all of the numbers people know that it is the entitlement issue. if you can come up with some sort of fixed trajectory to make it somehow stable, that would be -- you have something from the book. >> your books are all ultimately about power. how it is used, squandered, built, and so the subtext of these events are about how life works, how washington works. if my favorite...
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they are saying capital and income from capital should be taxed the same way we tax earned income. that is a fundamental in equity in our tax code. >> that's right. this country in its economy he has done well when we've had policies that have promoted middle class expansion. this is good for capital. franklin roosevelt for all of understanding, he said if you don't have a middle class that works, you won't have an economy for the rich. there's a narrow mindedness that i've got mine and i want more and i'm take it from you if that's what it takes. american economic policy works best when it's building a middle class. >> you go back to henry ford, who is no legal tarian at heart. he said if my workers can't afford to buy the cars they're building i won't be able to sell them to everybody and wanted to raise wages. you have been a proponent of going over the cliff basically saying we're not going to cave because of the threat. do you still hold that position and is there support in the democratic party for it? >> there is. we're not in favor of going over the cliff we're in favor of
they are saying capital and income from capital should be taxed the same way we tax earned income. that is a fundamental in equity in our tax code. >> that's right. this country in its economy he has done well when we've had policies that have promoted middle class expansion. this is good for capital. franklin roosevelt for all of understanding, he said if you don't have a middle class that works, you won't have an economy for the rich. there's a narrow mindedness that i've got mine and i...
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Dec 9, 2012
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the tax measure. after the tax measure was passed, the governor's job approval rating went town 48%. nearly half of the people now think the state is going in the right direction. that is a difference. but 94% of those polled still believe that the state's fiscal future overall remain as problem. so, with numbers like that, we turned to former mayor and state assembly speaker willy brown and san francisco chronicle political reporter joe garifoli. our first question to the pair is it appears happy days are here again for california voters, but why are they feeling so good? >> they are feeling better. not a management of people are feeling good, but they are -- not a majority of people are feeling good, but they are feeling more optimistic. they think is state is on better financial footing. >> did you ever take stock when the public was feeling better or worse? >> no, are youing me? i am more -- are you kidding me? i am more concerned about the votes. the public was basically in second place. i had to
the tax measure. after the tax measure was passed, the governor's job approval rating went town 48%. nearly half of the people now think the state is going in the right direction. that is a difference. but 94% of those polled still believe that the state's fiscal future overall remain as problem. so, with numbers like that, we turned to former mayor and state assembly speaker willy brown and san francisco chronicle political reporter joe garifoli. our first question to the pair is it appears...
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we don't think their taxes should go up. to me since that's a point of agreement and doesn't affect either side's negotiating position on the other issues we ought to remove it from the table. make sure most americans don't have to worry about their taxes going up. having said that, again, i think the speaker's right on in terms of the proposal he's put out there. most importantly, he couples it with something the president doesn't, which is really significant spending cuts and entitlepment reform. but if we solve the tax problem for 98 ps% of the american people, continue to fight for the other 2%, to not raise rates, that seems to me we move closer it toward that spending and entitlement debate and i think that's something that the president and the democrats in general are trying to avoid. >> senator, tom coburn was on "morning joe" alongside you today and he has -- he's willing to make a deal that does involve the higher rates for the wealthy. why not go there? the president has made it clear it just is not enough money
we don't think their taxes should go up. to me since that's a point of agreement and doesn't affect either side's negotiating position on the other issues we ought to remove it from the table. make sure most americans don't have to worry about their taxes going up. having said that, again, i think the speaker's right on in terms of the proposal he's put out there. most importantly, he couples it with something the president doesn't, which is really significant spending cuts and entitlepment...
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Dec 7, 2012
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enough public sentiment saying give up on the tax breaks to get a bigger deal. the president could muscle through the tax rates on his own. risks on his side. why not force him into a position where they can get sort of a bigger deal. here's what i thought was important. republicans saying to me that, you know, last july when we had the debt debacle, the feeling was don't give the president a success, don't give him a big victory because we want to have a prospect of our own candidate winning the white house. that's gone. so i think some of that is abated. >> and chris cizilla, john boehner seems to have more running room. you don't see eric cantor looking over his shoulder quite so much. >> i thought that one of the most fascinating things of the week, the "new york times" story that detailed what you're saying, andrea, that john boehner is in a stronger position than he was after the 2010 election. sort of consolidated his republican conference behind him. david is right, is i think what we know is republicans are willing ultimately, they may not say it today,
enough public sentiment saying give up on the tax breaks to get a bigger deal. the president could muscle through the tax rates on his own. risks on his side. why not force him into a position where they can get sort of a bigger deal. here's what i thought was important. republicans saying to me that, you know, last july when we had the debt debacle, the feeling was don't give the president a success, don't give him a big victory because we want to have a prospect of our own candidate winning...
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the white house wants a tax on the rich and increase on the debt limit. say tax tight cost american jobs. medicare is going bankrupt, inability will be bankrupt two years. of democratsity republicans to reach a compromise is frustrating to about socialry security and medicare benefits. a lot of times when people are dug in, they hav a lot of misinformation. still, some insist progress made. g >> our economy is moving up, not enough. go over that cliff would be terrible. in her place of work, linda coolercooler head -- prevail. >> we hope that government will work withus so we can them. on that talk shows today, said he wouldrker agree to higher taxes a the wealthy if it meant chance to overhaul costly like medicare. democrats are skeptical of gop proposals. >> thank you. it happened again -- an intruder e into a georgetown university students president. this happened early this morning. woke upn't work at -- d found the intruder. the student was not hurt. ago, a man broke into campus rowhouse and attacked to students in sight. indication than incidents ar
the white house wants a tax on the rich and increase on the debt limit. say tax tight cost american jobs. medicare is going bankrupt, inability will be bankrupt two years. of democratsity republicans to reach a compromise is frustrating to about socialry security and medicare benefits. a lot of times when people are dug in, they hav a lot of misinformation. still, some insist progress made. g >> our economy is moving up, not enough. go over that cliff would be terrible. in her place of...
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taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one, we are talking about federal taxation. if you want to have a argument with your county or city government, new york city and westchester county or long island go have it. >> you are not answering. >> but if you are talking about federal tax, right i'm saying to you i between between 35 and 39 is totally good. >> but that's not addressing it. wait a second. this is not a small issue. after somebody pace their federal, their state, their social security, their property, their car tax, their sales tax, after they are done giving the government their fair share, state, local, federal, what is fair? give me a
taxes, you have been paid sales taxes or hidden taxes, so in the end in big states, people will be paying 60 -- a minimum of 60 cents of every dollar they make to the government. and i ask you, after every american is finished paying their fair share, how much of every dollar should they be allowed to keep, juan? and i want a direct answer. don't dodge, don't duck. what is fair? >> i don't duck. i always am straight with you, sean because i think you deserve an honest answer. number one,...